Setting up Master Tax Schedules

You can create master tax schedules to determine how taxes will be calculated on your job when billing customers. Master tax schedules allow you to exclude billing for specific cost elements from the sales tax calculation. You can also have specific cost elements taxed with different tax schedule IDs.

1. Select Microsoft Dynamics GP > Tools > Setup > Job Cost > Job Cost Setup > Master Tax Schedules.
2. Complete the following fields, as necessary.
   • Master Tax Schedule ID
     Use the lookup to select an existing ID.
   • Tax Schedule ID
     Select a tax schedule for each cost element. The Master Tax Schedule ID defaults but can be edited.
   • Exclude From Tax Calculation
     If billing taxes on certain cost elements is not required, mark this checkbox. For each cost element, you must either select a tax schedule or mark it as exempt.
3. To print the Master Tax Schedule List report, select File > Print or select the printer button.
4. Select Save.